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Sep 07 - 08:55 PM

EUR/USD - Bounces Ahead Of ECB As US Yields Ease -

By John Noonan  —  Sep 07 - 07:15 PM
  • EUR/USD gained 1.0% as fall in US yields and slide in oil price underpinned

  • It closed above the 10-day MA at 0.9977 and that is now support

  • Resistance is at 21-day MA @ 1.0040 and break would suggest bottom forming

  • ECB decision later today is a key event with market pricing in a 75 BP hike

  • If ECB opts for 50 BP hike instead - it will likely see EUR/USD sell off

  • Fed Chair Powell speaks later today and will likely reiterate hawkish view

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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